Shocking! New economic analysis shows that the Republican tax bill is producing exactly the results Democrats predicted: massive profits for the corporations, being used for stock buybacks to fatten the accounts of the well-heeled and the bonuses of the top corporate execs, and a few crumbs for a few workers here and there. Walmart, for instance, is projected to fatten its coffers by $18 billion due to the tax cut. The much-ballyhooed $1,000 bonuses for the workers (workers who have been with the company 20 years, as it turns out) will cost the corporation all of $400,000,000. Bottom line: $17.6 billion for investors and company bigwigs and $0.4 billion for the workers. The consistent mantra that such moves are to help create jobs and help the working class is revealed again for the cynically manipulative campaign of subterfuge it is: 2.2% of these benefits are gong to average folks, who will now be asked to pay for them with things like reduced medicare coverage.
See the full story in the Washington Post by Paul Waldman here.
